USDJPY awaiting trade talks update
The US dollar has pulled back from the 109.00 level against the Japanese yen currency, following bearish comments from President Trump towards Sino-US trade talks. A bullish inveretd head and shoulders remains play, with the 110.00 level still the favoured target. Continued technical failure before the 109.00 resistance level will eventually start to weigh on the USDJPY pair.
The USDJPY pair is bullish while trading above the 108.60 level, key resistance is found at the 109.00 and 110.00 level.
The USDJPY pair is only bearish while trading below the 108.60 level, key technical support is found at the 108.40 and 108.00 levels.